As per the Supreme Court?s verdict in the 2G spectrum case, Loop Telecom faces cancellation of 21 licences, along with a Rs 5 million penalty.
Thereafter, the operator had issued a statement emphasising that it was not involved with and did not benefit from the changes made to the first come first serve policy, including the notification of a cut off date for applications and the changes in the terms of the LoIs issued in 2008.
It added that its applications for new licenses were made in pursuance to the policy announced by the Government in August 2007. Loop had, according to the statement, applied for the licence with the intent of expanding its presence from a single circle to a pan India operation.
Now, Loop Telecom has reportedly written to Dr Prime Minister Manmohan Singh stating that it is ready to give up its licence on condition that the government refunds the Rs 14.54 billion licence fee, clubbed with interest.
Further, the operator said it does not plan to file a review petition or take any other measures to challenge the Supreme Court?s judgement.
